Press Releases

Tax Cuts and Jobs Act Passes House

The Tax Cuts and Jobs Act passed the House today with a 227-205 vote. The American tax code is now one major step closer to a total overhaul. Congressman Lamborn (R-CO) issued the following statement:

"Today is a historic moment for our economy, our businesses, and our families. I'm happy the Tax Cuts and Jobs Act passed the House with strong support. This bill is for middle-class America. The tax cuts will help families and individuals save money. It not only lowers the individual tax rate but it provides a new Family Credit and doubles the Standard Deduction. Business will also flourish with the write-off for investments and pro-job growth. The mere fact this is the first major overhaul of the tax code since 1986 is worth applauding."

"Colorado is going to see thousands of jobs created, along with the average family saving over $3,000 a year. In our fifth congressional district, the 57, 047 who claim the Child Tax Credit are going to get an expansion from $1,000 to $1,600. The new tax code is going to simplify how over 99,000 constituents in CO-05 itemize taxes by sending them in a postcard sized form."

"Today is a momentous occasion for all Americans. The old tax code has burdened many for too long, and the new bill revolutionizes it in the best way possible."